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How to use trend channel to judge the price action momentumIn this video, I use S&P 500 futures CME_MINI:ES1! as an example to show you using trend channel to judge the price action momentum. At the later part of the video, I also show the use of upward thrust, and the up wave on top of the channel to judge the momentum. It is important to assess the price action momentum of any trading instruments (i.e. stocks, Forex, futures, bond, bitcoin, etc…). If there is a fading of momentum, this is the first sign of weakness to pay attention to before we start to anticipate a change of character, e.g. a down-wave to at least stopping the uptrend, if not reversing the trend immediately. Having said that, do not get misled that if we see loss of momentum of the trading instruments, we need to get bearish to short, simply because this is only a red flag for us to anticipate potential weakness ahead. And it will take time to materialize. As long as we have a structure with higher high and higher low, the up trend is still intact.
CME_MINI:ES1!Education
by mingjong
4
Marrying the Trade is BAD :( - Daytrading RECAP 04/15/20Hi traders, It looks like I celebrated too early! Not being able to short ICD and one mistake put me back into negative for the week. But that's life! *In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the description.* Three trades today: 1) DAL - LONG half position @25.23, aerolines crumbled from that point on. -0.41% 2) IVZ - LONG @9.09, eventually followed the market down. -0.85% 3) OXY - SHORT @13.34, it fought HARD but didn't make it to my full target and I was too stubborn to close it. -0.93% How you guys did today? Total PnL for the day: -2.19% Total PnL for the week: -1.33% Good trades, Tom | FINEIGHT
AMEX:SPY
by Fineight
Dow Jones - supply absorption to rally up till overbought?Dow Jones futures ( CBOT_MINI:YM1! ) edged up slightly in the London session today as President Donald Trump will issue guidelines for the re-opening economies. 15 Apr 2020 recap - on the daily chart, Dow Jones futures had a reaction with slightly increasing supply, which broke the previous day's low but demand was seen in the afternoon session to push the price up. Similar to S&P 500 futures movement, Dow Jones futures coiled within the bearish rising wedge pattern and broke down an hour before the US session due to bad retails sales data. Despite falling 2% yesterday, excessive supply is not seen and the uptrend from 23 March is still intact.  Since bottom in March, shortening of the thrust is seen in the Dow Jones futures, suggests the buying momentum is fading. However, as I mentioned, until there is evidence of increasing of supply to take the price down, we are likely to see Dow Jones to inch up further, possibly to around 25000 as illustrated. This also coincides with the overbought area of the rising wedge and the resistance zone. Bias - bullish when Dow is above 22500–23000 Key levels - Resistance: 24000, 24800–25000 Support - 23000, 22500 Potential day trading setup for Dow Jones futures - look for a spring of 23000 or swing lows in H1(23200)to initiate a long entry. Enjoy this video? Like the idea and hover my picture to follow me and subscribe my channel to get instant notification for my next ideas.
CBOT_MINI:YM1!Long
by mingjong
S&P 500 futures shortening of the thrust with a rising wedge14 Apr 2020 recap - on daily chart, S&P 500 futures managed to overcome the psychological level at 2800 and close at 2843, which is a bullish sign. Yet, shortening of the upward thrust is spotted, especially in H4 timeframe, since the low from 4 Apr 2020. A rising wedge pattern is formed and is near the end, suggests the time has come to pick a direction to either break down the wedge to retrace to 2700–2730, or to rise to the overbought area before starting any reaction. Although the rising wedge pattern is bearish in general, it is better for us to assess both scenarios so that we are well-prepared to trade in either scenario. So far, supply is not manifested. It is important to judge the character of any reaction together with the volume to gauge the direction ahead. Bias - neutral, waiting for ES to resolve from the rising wedge pattern. Key levels - Resistance: 2850, 2900 Support: 2800, 2700–2730 Potential day trading setup - look for a test of the support at 2800 to initiate a long entry. Should it break down 2800, look for weak rally up for a short entry.
CME_MINI:ES1!
by mingjong
2
Daytrading RECAP 04/09/20 - Just in Green for the WeekHi traders, Alright let's wrap this week up! *In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the description.* SPY was making up its mind most of the day but it's just the way it is and it's our job as traders to adapt. I only managed not to lose THAT much today, hope you did better! Five trades today: 1) BIG - LONG @20.05, closed little above my SL @19.25 for a -0.875% 2) SIX - LONG @16.65, this one JUST hit my target @17.45 for today's only winner of +2% 3) SABR - LONG @7.05 and this time I wasn't so lucky. It turned couple of cents under my PT @7.55 and went back to BE and I closed it at the end of the session for -0,2% loss. 4) ERI - LONG @20.02 - a classical example of a fake breakout, stopped out @19.62 5) HAL - LONG @9.01, the break was good but then SPY stepped in and took most of the stocks down, including HAL which in retrospect could've been a nice reversal trade from my SL on. Total PnL for the day: -1.1% Total PnL for the week: +0.95% I wish all of you a great Easter, relax and let's all get prepared for another week in this wonderful trading business! All the best. Tom from FINEIGHT
AMEX:SPY
by Fineight
BTC Rising Wedge Into ResistanceBitcoin is currently forming a rising wedge pattern on the daily and four hour chart. This is also moving up into an area of resistance at the 7700-7900 area . I am also seeing declining volume on the move up as well as the stochastic indicator on the daily moving into the overbought area. This indicates to me that the current move is nearing its exhaustion point and I think the 7700-7900 area is a well defined area to start looking for shorts. If you are long it may be time to start booking profits. On a breakdown I am targeting the 5800 area as a significant area of support should we get there. The 5800 area would be my target for a short from the 7700-7900 range.
KRAKEN:BTCUSDShort
by CryptoCrispy
👨🏽‍🎨👩🏽‍🎨👨🏻‍🏫HOW TO MAKE TA IN 10 MIN 👨‍🏫👨🏻‍🎨🧑‍🎨Hello guys! In next 10 min I will teach you how to make TA! Really simple steps to create your TA. 4 useful tools to build your TA: -Trend Line -Head and Shoulders -Levels -Fibonacci ATTENTION: Dear followers please consider to appreciate my ideas on tradingview with your likes, this will help bring more quality content in next trading ideas. And if new to my work, and you like it, you can Follow my page to receive ideas in your Ideas Stream. Thanks 🤝😊 Stay tuned to Artem Crypto
WEducation
by ArtemFuturesTrading
17
Today's Beautiful Confirmed AMD Short & How To Spot ItHi traders, Another recap of today's ID session. Great mover AMD which I was planning to go Long in failed and instead offered a great Short opportunity. Key takeaways from the video: 1) Always be ready to be wrong in your expectations and profit from the other direction. 2) Watch for relative strength/weakness compared to the overall market! 3) Wait for the candles to close so you won't be shaken out. That's it, hope you can make some good buck next time you see a similar situation! Good trading, FINEIGHT team
NASDAQ:AMDShort
by Fineight